In transactions on the financial market from stocks to cryptocurrencies, the Limit order is one of the most effective support orders for users. Besides other orders such as OCO, Trailing Stop, TP/SL or TWAP, Limit is considered the easiest to use and most trusted by many people.
What is a Limit order?
A Limit order is an order that supports users to buy/sell cryptocurrencies at the desired price, it is often used to give users a better entry or exit point than the market price at a certain time. If the price increases after the Buy Limit order matches the price, the user will receive a profit and if the price decreases after the Sell Limit order matches the price, the user has kept the profit.
To put it simply, a Market order is like a bus, you stand at the bus stop and get on the bus as soon as it arrives at the stop. But for Limit orders, users have more options for the price they want to buy/sell, similar to booking a Grab ride.
See details: What is a limit order? Instructions for using limit orders in crypto trading
Translations
Vietnamese: Lệnh limit là gì?